Immediate Counterspelling (D&D)

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Unofficial rules compendium

All spellcasters can counterspell as an immediate action. Once per round, you can counterspell an opponent's spell even if you have not readied an action to do so. This counterspell action up an immediate action. You can't use this when flat-footed or otherwise denied your dexterity bonus to AC.

If using the Reactive Counterspell feat (Player's Guide to Faerün, p 42), characters with this feat can counterspell as a free action, but each individual counterspell still uses up a spell slot.